Here's What Republicans Said When They Rejected A Return To The Gold Standard 30 Years Agohttp://www.businessinsider.com/republicans-rejected-return-to-gold-standard-30-years-ago-2012-9/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Fri, 09 Dec 2016 23:32:10 -0500Rob Wilehttp://www.businessinsider.com/c/5046cca469beddef38000013jrrobertsTue, 04 Sep 2012 23:53:08 -0400http://www.businessinsider.com/c/5046cca469beddef38000013
It is not a wash! Income for the average wage laborer in the economy buys about 50% of the stuff today compared to 1970. That is a sad truth from all the comparisons I have done. Our parents were much richer, but lacked the technological gadgetry. So our technology gives us a false sense of being better off than our parents in wealth.http://www.businessinsider.com/c/5046caa4eab8ea190c00000ejrrobertsTue, 04 Sep 2012 23:44:36 -0400http://www.businessinsider.com/c/5046caa4eab8ea190c00000e
I framed average 1500 to 1800 square foot houses in Denver, CO in 1970 to 1973, as Nixon and "da Boyz" cut us loose from silver and gold permanently on an international trade basis, and they were all selling at $10 (ten dollars) per square foot. You can hardly do just floor covering for that now. Those were houses on big lots with concrete driveways. They even had small 100 sq. ft. decks if the house was raised off the ground. Those houses had full basements. The only thing they did not have was a landscape package, washer, dryer, and refrigerator. EVERYTHING else was included at $10/S.F.!!!http://www.businessinsider.com/c/5046c7f069bedd102600000djrrobertsTue, 04 Sep 2012 23:33:04 -0400http://www.businessinsider.com/c/5046c7f069bedd102600000d
Why don't you listen to your own words-" a free floating gold standard." "Free floating" and "standard" are opposed to each other. The whole problem with all this discussion is that most everyone is clueless to what America had for a money system from 1789+92 (ratified Constitution and the first Coinage Act) to the emergency issue of greenbacks by Lincoln during the Civil War; and then from there to the Enactment of the Federal Reserve System in 1913. Gold and silver coin was the money of the United States; they were SPECIE by law!!! There was no gold standard. That began with the Federal Reserve. Until we straighten our thought system concerning these definitions of money that are witnessed by our history, we will never be able to communicate any truth regarding gold in the future money system of the United States.http://www.businessinsider.com/c/5046c2f169bedd631d000010jrrobertsTue, 04 Sep 2012 23:11:45 -0400http://www.businessinsider.com/c/5046c2f169bedd631d000010
A "Gold Standard" is BOGUS if you want to return to "coined MONEY" as the U.S. Constitution declares. The "gold standard" is just a fractional reserve banking term in which the "non-prescious metal currency" (whatever it is = i.e.-Paper, colored plastic discs of assorted sizes, electrons, ...= fiction money/fiat money) is limited in growth by a fixed ratio to the gold, silver, etc.(precious metals) being held as a reserve to back the "fiction money"(always limited by law declaring the maximum of allowable expansion of the fiction money-i.e. created out of thin air). Gold, if it is being measured as a money, is always measured by weight! There are so many "GRAINS" of gold specified to equal a U.S. dollar by LAW! Once you leave the gold being measured as dollars by weight and go to a "floating fiat system", like the Federal Reserve System", the gold will wander in value with the floating system and you can NEVER have a logical way to redeem in gold the "fiction money units" representing the gold in reserve. It is iMPOSSIBLE! So if Jesse Helms and Ron Paul had any smarts about themselves 30 years ago, they would have never wasted money in the first place ordering a study on returning to gold backed currency, because you can never repay on a 1 to 1 basis. It is always in a fraction ( e.g. - "8, 15, 35, etc. fiction money" units to 1 gold unit).http://www.businessinsider.com/c/504689586bb3f79338000003aMEricaTue, 04 Sep 2012 19:06:00 -0400http://www.businessinsider.com/c/504689586bb3f79338000003
You just think it sucks cause you can't afford to buy any ...http://www.businessinsider.com/c/50468929ecad049d78000002aMEricaTue, 04 Sep 2012 19:05:13 -0400http://www.businessinsider.com/c/50468929ecad049d78000002
I see your ignorance knows no shame.
There is gold in the circuit board of your mobile device smart guy. There are Millions of mobile phones with small amounts of gold that GO MOSTLY UNRECYCLED.
You are proof of the failed education system.http://www.businessinsider.com/c/50466e4469bedd6f5600000agoldsuxTue, 04 Sep 2012 17:10:28 -0400http://www.businessinsider.com/c/50466e4469bedd6f5600000a
....which has probably been recycled two or three times. And when's the last time you bought a new desktop.http://www.businessinsider.com/c/504667e16bb3f7c97700000bInflation and Debt = SlaveryTue, 04 Sep 2012 16:43:13 -0400http://www.businessinsider.com/c/504667e16bb3f7c97700000b
Only if I was a 30-year-old waiter like you with 3 credit cards with no ambitions or any fortitude to save my money.http://www.businessinsider.com/c/5046643469bedd9f3b000003aMEricaTue, 04 Sep 2012 16:27:32 -0400http://www.businessinsider.com/c/5046643469bedd9f3b000003
"Gold pays no dividends, has no industrial uses, ..."
Gold has no industrial uses? Uh, I am pretty sure there is gold in the Mother board of the computer you used to post your ignorance.http://www.businessinsider.com/c/504663ee6bb3f70673000001hogwashTue, 04 Sep 2012 16:26:22 -0400http://www.businessinsider.com/c/504663ee6bb3f70673000001
60% of gold sales is jewelry. 20k an ounce? You are dreaming. The entire jewelry business would die, it's already struggling. Gold has a market limit and we are there.http://www.businessinsider.com/c/504662c8ecad04b52f000011LithTue, 04 Sep 2012 16:21:28 -0400http://www.businessinsider.com/c/504662c8ecad04b52f000011
But you would only be making 15K a year and you wouldn't have that car because you wouldn't be able to get a car loan for it , so its a wash in real termshttp://www.businessinsider.com/c/50466292ecad048731000006Solid GoldTue, 04 Sep 2012 16:20:34 -0400http://www.businessinsider.com/c/50466292ecad048731000006
Great video here explaining the situation--the people will choose to go back to gold not the corrupt politicians.
<a href="http://theautomaticearth.com/Finance/a-quadrillion-dollar-deflationary-debt-raft.html" target="_blank">http://theautomaticearth.com/Finance/a-quadrillion-dollar-deflationary-debt-raft.html</a>http://www.businessinsider.com/c/5046626b6bb3f74270000004LithTue, 04 Sep 2012 16:19:55 -0400http://www.businessinsider.com/c/5046626b6bb3f74270000004
That would happen under the gold standard too.http://www.businessinsider.com/c/50466256eab8eace21000008BrutusTue, 04 Sep 2012 16:19:34 -0400http://www.businessinsider.com/c/50466256eab8eace21000008
So we should be concerned about hyperinflation, which has occurred 56 times in history vs. hyperdeflation, which has never occurred. Correct?http://www.businessinsider.com/c/504660e0eab8ea1d1d000002carismarTue, 04 Sep 2012 16:13:20 -0400http://www.businessinsider.com/c/504660e0eab8ea1d1d000002
The discussion should be about a combined gold-silver standard, a far more practical alternative.http://www.businessinsider.com/c/50465f12eab8eae516000007who do I endorse?Tue, 04 Sep 2012 16:05:38 -0400http://www.businessinsider.com/c/50465f12eab8eae516000007
Nobody. As an adult, I don't need to be led. Of course, your situation may differ.http://www.businessinsider.com/c/50465ec4ecad04cd28000012DMGTue, 04 Sep 2012 16:04:20 -0400http://www.businessinsider.com/c/50465ec4ecad04cd28000012
"the absence of a sound guide"
THIS is the supposed problem with a gold standard and yet they presume to tell us that a fractional reserve fiat system is better??? Where is the "sound guide" for fiat money? The Federal Reserve? In the immortal words of John McEnroe...YOU CAN'T BE SERIOUS!!!!http://www.businessinsider.com/c/50465d1deab8ea3f1400000aTheCheeseTue, 04 Sep 2012 15:57:17 -0400http://www.businessinsider.com/c/50465d1deab8ea3f1400000a
I'm confused, so 30 years does not present adequate new data to warrant further study? What other areas of human knowledge have remained unchanged since 1980?http://www.businessinsider.com/c/50465c7369bedda624000004Barrack "The Empty Chair" ObamaTue, 04 Sep 2012 15:54:27 -0400http://www.businessinsider.com/c/50465c7369bedda624000004
and your vote would be for?http://www.businessinsider.com/c/50465b3decad043f24000003prepalawTue, 04 Sep 2012 15:49:17 -0400http://www.businessinsider.com/c/50465b3decad043f24000003
My portfolio is 100% gold and silver since 2006. Why? Because I want to preserve the purchasing power of my savings. There is no other reason. Investing in metal is like investing hard currency, which can not be electronically multiplied.
Today, there is zero interest on savings. Another $1 Trillion added to the national debt in 9 months. Inflation everywhere you have to spend money to stay alive: food; gasoline; shelter (real estate taxes and insurance); sick care (try pricing out tooth implants - no insurance coverage); get anything fixed - a muffler, a roof, plumbing - see what it costs now vs 1 year ago; etc.
Fellow Americans - your Greenback buys less of what you need every day. Stay out of risk - pay your debts off; exchange your money for metal before you wake up one Sunday morning and hear about the "currency reform" on Monday. Protect yourselves and your family with whatever you have. It is almost guarantied that your money will purchase less tomorrow.http://www.businessinsider.com/c/50465a63eab8ea4d0b00000dcaferrellTue, 04 Sep 2012 15:45:39 -0400http://www.businessinsider.com/c/50465a63eab8ea4d0b00000d
Oops
Make that "but the people do deserve money that doesn't lose more value than they can replace with interest."http://www.businessinsider.com/c/504659f7ecad04cc1f00000dcaferrellTue, 04 Sep 2012 15:43:51 -0400http://www.businessinsider.com/c/504659f7ecad04cc1f00000d
Its time for a change!
But not just any change. Mitt Romney would be as bad as Obama in almost all areas and much worse on foreign policy and military welfare to Lockheed and friendshttp://www.businessinsider.com/c/5046597669beddaa1e00000aGoldman SuxTue, 04 Sep 2012 15:41:42 -0400http://www.businessinsider.com/c/5046597669beddaa1e00000a
LOL! We are in the apocalypse now! Fiat currency has time warped everything and we are racing towards our demise! Don't you get it? Never before was it easier to raise millions of dollars to fund some project that ultimately just destroys the Earth. Need a a hundred million in slave fiat gulag money to destroy that rainforest in Borneo? No problem, what will it earn me in funny money interest? OK, here ya go, one day later you got 100mil... now go rape that land!!!http://www.businessinsider.com/c/5046596869bedd5f1e000003caferrellTue, 04 Sep 2012 15:41:28 -0400http://www.businessinsider.com/c/5046596869bedd5f1e000003
We do not need a gold standard, but the people do deserve money that loses more value than they can replace with interest.
The answer is simple. The Congress should pass a law making gold and silver legal tender. That means that they can be legally used and money and would not be subject to capital gains taxes. Banks could allow people to have gold or silver savings accounts, checking accounts and the like. They could and probably would pay interest on gold and silver deposits.
The value of gold money against paper money would be a canary in the coal mine that would make it harder for the government to lie about the amount of inflation that their permanent deficit spending generateshttp://www.businessinsider.com/c/504657f8eab8eaae08000001Inflation and Debt = SlaveryTue, 04 Sep 2012 15:35:20 -0400http://www.businessinsider.com/c/504657f8eab8eaae08000001
If we would have listened to Ron then, our parents would have been debt free now, had a properly funded savings account, and not squandered away their entire life's work. Moreover, a 3 bedroom house would have still cost 75K in a decent neighborhood.
The Dems and GOP work for the banks, not us, and the banks love the Keynesian digital slavery casino.http://www.businessinsider.com/c/504655a1ecad04e816000010Barrack "The Empty Chair" ObamaTue, 04 Sep 2012 15:25:21 -0400http://www.businessinsider.com/c/504655a1ecad04e816000010
Five Things Democrats Wont Talk About At their Convention
1. The National Debt. Now approaching $16 trillion, the national debt and our debt to GDP ratio has never been worse despite the fact that Obama ran on a platform of debt reduction.
2. The Real Unemployment Rate. Everyone knows the unemployment rate is hovering over 8% and the president has to deliver his message to a nation that hasn’t seen the employment bounce-back promised from the $1 trillion in stimulus. However, what you won’t hear at the DNC are the real numbers – 23 million people unemployed or underemployed making the real unemployment rate, including those who have stopped looking for work at a staggering 14.9%. Unemployment is also being concealed by the between 3-4 million people who have been added to the Social Security disability insurance program since Obama took office.
3. Gas Prices. Obama hit President Bush hard for rising gas prices in 2008 and promised Americans relief at the pump. When he took office, the national average for a gallon of gas stood at $1.95. Today, on Labor Day, it’s nearly double, and yet he scarcely mentions it. How could he after appointing an Energy Secretary that believes it would somehow be good to have gas prices similar to Europe or after spending $1 billion on a failed so-called green jobs program? Obama’s stonewalling of the Keystone XL pipeline is also further evidence that the president is too focused on making the Chevy Volt viable rather than doing anything to lower gas and energy prices for Americans.
4. More than one third of Americans are on Government Assistance. Obama seems to be all for the culture of dependency, but don’t expect him to trumpet the idea that more than one third of the country is now receiving some form of means-tested government assistance. That number is up from about 24% under Bush. Of course, this welfare state isn’t a creation of the President, but between ObamaCare and his recent gutting of the work requirement for welfare recipients, Obama is well on his way to building his progressive utopia. The Romney camp should emphasize this point. Americans will find it depressing and distasteful.
5. The Federal Jobs Created. For all the talk about the unemployment rate and sluggish private sector growth, Obama has presided over the creation of nearly 150,000 new unionized government jobs during his term. This included thousands of new workers to manage ObamaCare at the IRS and the Department of Health and Human Services. This is a big slap in the face to the unemployed in the this country when you consider that the average salary for a federal worker is now in excess of $70,000 plus benefits. Federal workers who benefit from union protection are often doing far better than their private sector counterparts these days. And while GOP governors have been reducing the public payrolls on a state level, Obama has continued to grow the federal bureaucracy.
Obama a complete failed President..its Time for Changehttp://www.businessinsider.com/c/504655276bb3f77355000006An0nTue, 04 Sep 2012 15:23:19 -0400http://www.businessinsider.com/c/504655276bb3f77355000006
everyone knows a gold standard will never happen, repubs are trying to appeal to the ron paul supporters.
just like in 1980 when gold was also skyrocketing and the public was buzzing about it, they tried the same thing. what followed was a 15 year price decline. same will happen now. im long gold, as a trade, but i expect in 3-5-10 years for it to be considerably lower.http://www.businessinsider.com/c/504654f06bb3f77755000006aMEricaTue, 04 Sep 2012 15:22:24 -0400http://www.businessinsider.com/c/504654f06bb3f77755000006
"He should sell anything and everything that would make he and his family rich pertaining to gold -- then lets see how interested he is in the gold standard..."
Then Bernanke should sell all his stocks BEFORE QE3.
People who believe gold stores value save in gold. They also have had a great decade.http://www.businessinsider.com/c/5046533369beddf00e000008goldsuxTue, 04 Sep 2012 15:14:59 -0400http://www.businessinsider.com/c/5046533369beddf00e000008
Luckily, gold idiocy is sunsetting in America. It will soon be back to 1992. Gold pays no dividends, has no industrial uses, fluctuates wildly in price, is expensive to store and insure, and is not scarce (it is merely expensive to mine)
With world trade and modern technology, we're looking at billions of people already with cell phones and internet access. That means the disruptive forces that have historically roiled mankind are in retreat everywhere. NEVER has there been a worse time to bet on apocalypse.http://www.businessinsider.com/c/504651926bb3f7a04e000009BrettTue, 04 Sep 2012 15:08:02 -0400http://www.businessinsider.com/c/504651926bb3f7a04e000009
The best way to go, in my opinion, is to measure all currencies against gold rather than against a basket of other currencies. With a free floating gold standard, all world currencies would be measured against a solid foundation and couldn't be as easily manipulated, while allowing policy makers the 'flexability' they so require.http://www.businessinsider.com/c/50464c0469beddba78000009badbobTue, 04 Sep 2012 14:44:20 -0400http://www.businessinsider.com/c/50464c0469beddba78000009
I guess this is what they mean when they say history repeats itself. Here we go again!!!http://www.businessinsider.com/c/50464bc1ecad049a04000004Mechanical GripTue, 04 Sep 2012 14:43:13 -0400http://www.businessinsider.com/c/50464bc1ecad049a04000004
As I've always said.
1) how do you value the gold once it becomes a "standard"?
2) the average citizen doesn't own enough gold for it to be equitable. Ergo the global .01% would have a lock on the worlds wealth. Today they do not.
3) Ron Paul stands to be a gold standard gazillionaire the minute a gold standard were to come into existence. He should sell anything and everything that would make he and his family rich pertaining to gold -- then lets see how interested he is in the gold standard...http://www.businessinsider.com/c/50464b846bb3f7584300000bKermitTue, 04 Sep 2012 14:42:12 -0400http://www.businessinsider.com/c/50464b846bb3f7584300000b
The only way we go to a gold standard is if the US Govt can up its inventory MASSIVELY. How would it do that?